NEWS RELEASE 06/18/09

FASB Chairman Robert Herz to Address the National Press Club in Washington, DC on June 26

Norwalk, CT, June 18, 2009—Financial Accounting Standards Board (FASB) Chairman Robert Herz will address the National Press Club in Washington, DC on June 26 as part of its famous luncheon speaker series. Mr. Herz will provide his insights on the challenges created by the financial crisis—particularly regulatory reform—in a speech entitled “History Doesn’t Repeat Itself, People Repeat History—Front-Line Thoughts and Observations on Creating a Sounder Financial System.”

Recently named one of the “100 Most Influential in Finance” by Treasury and Risk Magazine, Mr. Herz has been chairman of the FASB since 2002 and was re-appointed to a second five-year term in 2007. He has played a central role in addressing critical accounting issues that have arisen from the global financial crisis both domestically and internationally. During his tenure as FASB chairman, Mr. Herz has been an advocate for enhanced investor focus at the FASB and has also pursued the goal of a single set of high-quality global accounting standards in conjunction with the International Accounting Standards Board (IASB).

Prior to joining the FASB, Mr. Herz was a senior partner with PricewaterhouseCoopers and a member of the firm’s Global and U.S. Boards. Mr. Herz also served as a part-time member of the IASB. The National Press Club luncheon will begin promptly at 12:30 p.m. Mr. Herz’s remarks will begin at 1:00 p.m., followed by a question-and-answer session. Advance reservations are required and should be made by telephoning the National Press Club at (202) 662-7501. Cost of the luncheon is $16 for National Press Club members, $28 for guests of members, and $35 general admission.

The National Press Club is located at 14th and F. Streets, NW, one block west of MetroCenter. More information about the Club and its programs is available at www.press.org.

About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.